| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 16.4 | 16.0 | 13.3 | 11.5 | 10.8 | 9.4 | −13.0% | |
| Cost of revenue | 1.4 | 3.3 | 2.5 | 2.2 | 2.2 | 2.2 | −2.7% | |
| Gross profit | 15.0 | 12.6 | 10.8 | 9.3 | 8.6 | 7.2 | −15.7% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 3.3 | 3.0 | 3.3 | 2.6 | 2.3 | 2.2 | −3.5% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 3.7 | (3.1) | (0.8) | 16.0 | 8.0 | 2.3 | −71.9% | |
| Operating income | 11.3 | 15.7 | 11.7 | 6.2 | 0.5 | 5.0 | +821.8% | |
| Interest expense | 3.6 | 3.2 | 3.0 | 2.4 | 3.3 | 2.4 | −27.0% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.2 | 0.2 | 0.1 | −17.2% | |
| Other income / expense | (31.5) | (1.8) | (0.7) | (15.6) | (2.9) | (5.8) | −100.0% | |
| Pre-tax income | (20.2) | 13.9 | 10.9 | (9.4) | (2.4) | (0.8) | +64.4% | |
| Income tax | 0.4 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Net income | (20.6) | 13.9 | 10.9 | (9.4) | (2.4) | (0.8) | +64.4% | |
| Discontinued operations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Other net income adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| EPS, basic (per share) | (0.12) | 0.08 | 0.06 | (0.05) | (0.01) | (0.00) | +64.4% | |
| EPS, diluted (per share) | (0.12) | 0.08 | 0.06 | (0.05) | (0.01) | (0.00) | +64.4% | |
| EBITDA | 11.3 | 11.0 | 13.9 | (7.0) | 1.0 | 1.6 | +62.6% | |
| Depreciation & amortization | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | +0.0% | |
| Weighted average shares (shares) | 179,377,898 | 179,377,898 | 172,909,757 | 172,909,757 | 174,181,683 | 174,507,154 | +0.2% | |
| Weighted average diluted shares (shares) | 179,377,898 | 182,261,263 | 172,909,757 | 172,909,757 | 174,181,683 | 174,507,154 | +0.2% | |
| Gross margin | 91.5% | 79.1% | 81.3% | 80.6% | 79.4% | 76.9% | −2.5 pts | |
| Operating margin | 68.7% | 98.5% | 87.7% | 53.6% | 5.0% | 52.8% | +47.9 pts | |
| Net margin | −125.7% | 87.2% | 82.3% | −81.7% | −21.9% | −9.0% | +12.9 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
